\"What we're seeing is a generation of teams in their mid-twenties going into areas where they had no prior experience, working really hard... building and iterating more quickly than has been done before.\"
\"How strong is this team? How quickly can they build and ship things? Because this whole space is moving so quickly, the ground is shifting from under you and you have to be able to adjust with that.\"
\"In between those two, the models and the applications, you have infrastructure, and that's just hard. It's just difficult...\"
\"I don't have a religious view on open versus closed; it's kind of just the state of the world today.\"
\"If there is training data specific to a domain and there's an advantage to just focusing on that and using that data to more fully automate a process, then yeah, I could see many more of these kind of vertical type things in future.\"
\"It helps not to be encumbered by too much of a sense of history or too much of a sense of how things have been done before.\"
\"You really have to dig underneath that and understand what is the customer trying to achieve, how much of that can models do today, and then given the likely trajectory... will they get better over time?\"
\"I think in early-stage companies, there's no defensibility. And I don't even think defensibility is an unrealistic standard for an early-stage company.\"
\"Ultimately, all software applications as we know them today get replaced by agents because why would you want to do it yourself if you can instead have something else do it for you?\"
\"In general, how we approach it is we look for the handful of areas and the handful of teams where AI can make a significant difference and can really unlock a level of latent demand in the market that is there and just needs to be realized by the right product.\"